Loans, Loan Insurance & Protection

Loans

Loan Insurance & Protection

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Vehicle Loans

New and used vehicle loans are available at very competitive terms and rates. Our vehicle loans are available on any titled vehicle, including motorcycles, boats, campers, ATV’s and other titled collateral, however longer terms may be available if needed.


Personal Loans

We offer Signature Loans (both a line-of-credit & fixed-rate loan), as well as Overdraft Loans. These types of loans are granted to qualifying members without collateral being required.


First Mortgage Loans

We offer a variety of First Mortgage Loan options at competitive rates with low closing costs. Rates vary daily.  Please complete an online mortgage application with Premier Lending—our mortgage lending partner—or call or email us for details.

  • FHA – Gift funds allowed
  • Conventional 30, 25, 20, 15, 10 yr fixed terms
  • VA – No down payment required
  • Manufactured homes
  • USDA – 100% financing
  • First time homebuyers
  • Jumbo financing

Home Equity Loans

Home Equity Line of Credit Loans, fixed-rate Home Equity Loans and Home Improvement Loans are available. Members can borrow up to 90% of the equity they have in their residence to finance just about any project or purpose. Repayment terms are available for up to ten years (120 months).


Savings Secured Loans

Share (savings) secured loans are available to members who wish to pledge their share balances as collateral. Dividends will continue to be paid to members on pledged balances.

 


Credit Life & Credit Disability Insurance

In the event of an unexpected accident or illness, make sure you have the right coverage to help protect your family and your assets. MEMBER’S CHOICE ® Credit Life and Credit Disability Insurance, available through Des Moines Police Officers’ Credit Union can help make your loan payments and help protect your financial future.

With Credit Disability Insurance, your eligible loan payments will be made should you become totally disabled due to a covered illness or injury. Payment continues until you return to work, the loan is repaid or you reach the policy maximum. Credit Life Insurance helps reduce or pays off your eligible loan balance should you die, helping protect your loved ones from the financial hardship of paying off your loans.

Rates are quoted when you apply for your loan, and the cost of coverage could be part of your regular monthly payments. To learn more about MEMBER’S CHOICE ® Credit Life and Credit Disability Insurance, visit Des Moines Police Officers’ Credit Union or call 515.243.2677.

CUNA Mutual Group is the marketing name for CUNA Mutual Holding Company, a mutual insurance holding company, its subsidiaries and affiliates. Your purchase of MEMBER’S CHOICE ® Credit Life and Cr edit Disability Insurance, underwritten by CMFG Life Insurance Company, is optional and will not affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Policy Agreement for a full explanation of the terms.


GAP (Guaranteed Asset Protection)

GAP coverage is an auto loan debt cancellation waiver that protects you financially if your vehicle is totaled or stolen, and you owe more on the vehicle than your insurance will pay. It’s affordable coverage for any member that ensures a misfortune with your vehicle doesn’t require a fortune out of your pocket.

  • GAP coverage is available on new and some existing DMPOCU loans
  • Coverage may be paid upfront, or rolled-in to your loan payment
  • GAP will pay an additional $1,000 toward the purchase of a replacement vehicle when it’s financed at Des Moines Police Officers’ Credit Union

For more information, an instant quote, or to add GAP coverage to your existing DMPOCU loan, please visit our GAP Partner in protection.

Auto Advantage Deductible Reimbursement Insurance

Included with your purchase of GAP insurance!

Des Moines Police Officers’ Credit Union is proud to now offer our members an Auto Deductible Reimbursement Insurance that will help cover out-of-pocket expenses, such as your insurance deductible, when you have an accident or mishap with your vehicle.

Here are a few of the details:

    • Pays up to $500 per loss when a claim is filed and paid with primary insurance carrier
    • Loss means an event for which the auto insurance company has approved & paid a claim which exceeds the Covered Auto Deductible for a collision or comprehensive claim.
    • Coverage is effective upon date of enrollment and will continue for three (3) years.
    • Not only does this insurance cover deductibles for the vehicle you have a loan on but it will also reimburse you for insurance deductibles that you have to pay on all other vehicles, as long as those vehicles are titled in the same person’s name that is listed on the GAP policy.

For more information, call, stop in to our office, or email us.


Mechanical Breakdown Protection (MBP)

Mechanical Breakdown Protection (MBP) provides protection against mechanical breakdowns beyond your existing manufacturer’s warranty. For more information, or to get an instant quote, simply visit our MBP partner in protection.